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Two weeks ago I wrote about the current debate over the 2010 paper by Ken Rogoff and Carmen Reinhart (hereinafter referred to as RR) on the correlation between debt and GDP growth. I said that the most important part of their work, which is the construction of an enormous database on debt and financial...

The Bang! Moment The Purpose of Debt Austerity Is a Consequence, Not a Punishment San Francisco, Carlsbad, Tulsa, Nashville, and Brussels Two seemingly different questions and comments from readers and friends crossed my path the last few days, but I saw a definite connection between them. The first...

The Consequences of Austerity Euro Break-Up – The Consequences Welcome to the Hotel California The Slow March to Recession in the US Preparing for a Credit Crisis What Can You Do About the Weather? Europe, Houston, New York, and South Africa “I am sure the Euro will oblige us to introduce...